The TECH86 Roundup (Jun. 06-Jun.19)
Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, AGRTECH and MEDTECH sectors.
Nation’s fintech companies expand their reach, Via China Daily.
Chinese fintech companies have been expanding overseas. The rise of Chinese financial technology companies as major market players in Asia is playing a significant role in shaping the regional fintech ecosystem.
First ‘cloud-based’ Canton Fair opens in South China, Via CGTN.
The Canton Fair, also known as the China Import and Export Fair, is held every spring and autumn in Guangzhou, south China’s Guangdong Province, since its founding in 1957, and has been seen as a barometer of China’s foreign trade. It is bracing for a new form of online exhibition this year amid the COVID-19 pandemic.
Chinese Telecommunications Giant ZTE Collaborates with China Mobile to Publish Blockchain and Edge Computing White Paper, Via blockchain.
Chinese multinational telecommunications giant ZTE has partnered with China Mobile, along with the Chinese Ministry of Industry and Information Technology Laboratory, and Peking University to publish a “blockchain and edge computing white paper.” The white paper focuses on the combination of blockchain and edge computing technology and applications while exploring the mutual collaborative development efforts of the two technologies.
Shenzhen plans full 5G coverage by end of August, Via Global Times.
Shenzhen in South China’s Guangdong Province will cover the city with high quality 5G signals by the end of the August, according to the Shenzhen Industrial and Information Technology Bureau on Saturday.
CEO livestreaming a new trend in China to boost sales,Via Global Times.
A total of 10 executives from tech firms including Baidu, Huawei, Lenovo and iFlytek, showed up in live streaming on e-commerce platform JD.com on Thursday night to boost sales of their latest products.
Rural e-commerce drive presses ahead, Via China Daily.
Chinese government is pressing ahead with an initiative to bolster the growth of e-commerce in rural areas this year, with measures to help develop logistics and public services and offer more training courses to farmers.
Alibaba launches shopping festival for intangible cultural heritage, Via Xinhua.
E-commerce giant Alibaba launched its first shopping festival designed to promote intangible cultural heritage (ICH) on China’s Cultural and Natural Heritage Day, which falls on the second Saturday of June.
China Leads Pan-Asian Digital Currency Project to Compete with Facebook’s Libra, Via blockchain.
In the race for digital currency supremacy, China is leaving no stone unturned. The country, in addition to developing its own Central Bank Digital Currency (CBDC) or Digital Cash Electronic Payment (DCEP), is pioneering the emergence of a Pan-Asian digital currency.
Xiaomi’s Airstar Bank Announces the Official Launch of Operation in Hong Kong, Via mpaypass.
On June 11th, challenger bank Airstar Bank announced the official launch of operations in Hong Kong. The company was jointly established by Chinese tech giant Xiaomi and financial services conglomerate AMTD, and is one of the eight virtual banks that obtained a license from the Hong Kong Monetary Authority in 2019.
Japan’s central bank expands support for virus-hit companies amid “severe” economic outlook, Via Xinhua.
Bank of Japan (BOJ) Governor Haruhiko Kuroda on Tuesday said that amid the harsh virus-induced financial environment, the bank stood poised to unroll further easing measures as necessary, although conceded that Japan’s economic situation and outlook remained severe.
South Korea’s Regulators to Look into Security of Fintech Apps after Unauthorized Payments Made via Viva Republica’s Toss Platform, Via crowdfundingsider.
South Korea’s Financial Supervisory Service (FSS), a financial regulator that examines and supervises financial institutions under the oversight of the Financial Services Commission (FSC), is reportedly planning to look into the security of various Fintech platforms, due to unauthorized payments being conducted via Toss.
South Korea Sets Up Panel to Accelerate CBDC Launch, Via blockchain.
The South Korean central bank announced its intention to follow the global trend in the development of a CBDC in April 2020. The bank launched the process by setting up a six-man panel including professors of commercial laws and lawyers focused on Fintech.
Huami banks on AI to consolidate wearables push, Via ecns.
Huami Corp has stepped up its push into artificial intelligence technologies by unveiling new chips and setting up an AI research institute.
China’s nuclear power capacity to jump by 60% to 100 million kW by 2025, Via Global Times.
China’s nuclear power generating capacity will jump by 60 percent to 100 million kW by 2025 from the 2019 level, the nation’s top nuclear industry body said.
High-tech company helps treat waste, Via China Daily.
China will take action to ensure more effective protection of the environment. The fast growing high-tech company found a way to contribute to China’s ongoing garbage sorting projects.
China launches first hydrogen-powered 5G smart tractor, Via Xinhua.
China’s first hydrogen fuel-cell electric tractor was launched Tuesday by the National Institute of Agro-machinery Innovation and Creation (CHIAIC) in Luoyang in the central province of Henan.
High technology plays key role as Beijing combats new COVID-19 outbreak,Via Global Times.
As Beijing has raised the COVID-19 emergency response level to II from III, high technology including big data, artificial intelligence and cloud computing is in play to help screen for the virus and prevent further spread.
Skeptical scribe converts to e-healthcare,Via China Daily.
An independent and comprehensive internet hospital has launched in Shanghai, aiming to adopt a combination of offline and online channels to enhance the effectiveness of modern healthcare. During the post-pandemic period, online healthcare platforms will effectively alleviate the difficulties faced in conventional medical treatment.
The 10th Shenzhen International Factory Supplies & Equipment Exhibition 2020
The 10th Shenzhen International Industrial Automation and Robot Exhibition 2020 (“ARE Shenzhen 2020” for short), which is jointly sponsored by Shenzhen Association of Automation and Hong Kong Trade Development Exhibit Group Co., Limited will be grandly opened at Shenzhen Convention and Exhibition Center from September 2-4, 2020.